By: Patti Loftis, Vice President and Director of AHT Nonprofit Practice
EVENT CANCELLATION INSURANCE
Should I buy it? Is it worth it? The answer – YES!
Before the sudden and unexpected pandemic changed our world on a global scale, Event Cancellation was, and still is, a valuable part of your Insurance portfolio. While Communicable Disease coverage is no longer available and most likely will not be available again in the foreseeable future, Event Cancellation is still an important and worthwhile coverage to consider.
WHAT IS EVENT CANCELLATION INSURANCE?
Event Cancellation protects the organization’s lost revenue due to circumstances beyond your control if your event must be cancelled, postponed or relocated due to a covered loss. These unique policies are designed to respond to a variety of situations. Most people associate Event Cancellation with weather-related occurrences, such as hurricanes, tornadoes, blizzards or floods, but they also can respond to power outages, civil commotion, fire (venue or wildfires) or labor strikes. In addition, these policies also give you the option to buy back the terrorism exclusion.
Bottom line, when the world starts returning to normal and your organization begins planning your in-person meetings and events, do not lose sight of the fact that this coverage continues to be a vital part of your organization’s risk management program.
UPCOMING Event Cancellation Roundtable
ASSOCIATION EXECUTIVES – JOIN US JUNE 17TH | 2:00pm – 6:00pm ET
Association Executives Peer Group Virtual Roundtable Symposium Day 1
Moderated Roundtable Discussions lead by Association Executives TBD on the topics of 1) How is Your Association Pivoting to the world of Virtual Events & Conferences (Technology and Attendee Experience), and 2) CONFERENCE CANCELLED – Now What? How is Your Association Navigating the Cancelling or Rescheduling of your Conference? (Legal, Insurance, Finance, managing Attendee/Sponsor/Exhibitor Registrations)
ASSOCIATION EXECUTIVES ONLY
UPCOMING Event Cancellation Roundtable - Part 2
ASSOCIATION EXECUTIVES – JOIN US JULY 1ST | 9:30am – 11:00am ET
CONFERENCE CANCELED – Now What? – How is your Association navigating the repercussions of having to cancel/reschedule your Conference?